IDT (NYSE:IDT) Trading Down 5.6% - Time to Sell?

Key Points

• IDT Corporation's shares fell by 5.6% to $62.36, with a significant decrease in trading volume, down 64% from the daily average.
• Wall Street Zen downgraded IDT from a "strong-buy" to a "buy" rating, indicating a more cautious view on the stock's performance.
• The company announced a quarterly dividend of $0.06 per share, representing a 0.4% yield, with the payment date set for October 10th.

IDT Corporation (NYSE:IDT - Get Free Report)'s share price dropped 5.6% during trading on Wednesday . The company traded as low as $62.50 and last traded at $62.36. Approximately 52,838 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 148,730 shares. The stock had previously closed at $66.03.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of IDT from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 14th.

IDT Trading Down 6.3%

The firm has a market cap of $1.56 billion, a P/E ratio of 16.29 and a beta of 0.79. The business's fifty day moving average price is $62.05 and its two-hundred day moving average price is $58.65.

IDT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.4%. The ex-dividend date is Tuesday, September 30th. IDT's dividend payout ratio (DPR) is 6.33%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC raised its holdings in IDT by 310.8% in the 2nd quarter. Lazard Asset Management LLC now owns 53,340 shares of the utilities provider's stock worth $3,643,000 after acquiring an additional 40,357 shares during the period. Gabelli Funds LLC acquired a new position in IDT in the second quarter valued at about $239,000. Marshall Wace LLP boosted its position in IDT by 1,436.4% in the second quarter. Marshall Wace LLP now owns 94,674 shares of the utilities provider's stock valued at $6,468,000 after buying an additional 88,512 shares in the last quarter. Quantbot Technologies LP boosted its position in IDT by 206.3% in the second quarter. Quantbot Technologies LP now owns 23,760 shares of the utilities provider's stock valued at $1,623,000 after buying an additional 16,003 shares in the last quarter. Finally, Segall Bryant & Hamill LLC acquired a new position in IDT in the second quarter valued at about $1,751,000. Institutional investors own 59.34% of the company's stock.

About IDT

IDT Corporation provides communications and payment services in the United States, the United Kingdom, and internationally. It operates through Fintech, National Retail Solutions, net2phone, and Traditional Communications segments. The company operates point of sale, a terminal-based platform which provides independent retailers store management software, electronic payment processing, and other ancillary merchant services; and provides marketers with digital out-of-home advertising and transaction data.

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